Brady was speaking on BBC Newcastle’s Total Sport show, where it was claimed that a number of parties are currently in due diligence after expressing their interest in purchasing the club from Donald.
But Brady believes that fans may have to wait a little longer for a new owner – especially while the club are unsure which division they will be playing in next season.
“It wouldn't surprise me if nothing happened before the summer,” he admitted
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“If you're interested in becoming the owner of a club like Sunderland, you do want to know where they'll be playing next season.
“I know they can come to some sort of agreement that will have terms and conditions attached dependent on where they're playing, but you just hope that something can materialise sooner rather than later.”
“I think there's been interest for a number of months now, but it obviously hasn't developed into something that can be made public in respect to one interested consortium,” he continued.
“It's no surprise that there would be interest in a club such as Sunderland.
“It would be interesting to know if there has been any agreement over the price of the club and whether that has been agreed ahead of any due diligence.
“But we'll just have to wait and see.”